News

03 Aug 2023
picture of a wind farm on what looks like mudflats

Modest hit to JLEN Environmental NAV from rising discount rates

JLEN Environmental Assets says that its unaudited NAV at 30 June 2023 was £801.4m or 121.1p per share. This is a decrease of 2.0p per share since 31 March 2023, after paying the quarterly dividend of 1.8 per share. What drove the change? Power and gas price fixes secured above previous valuation assumptions (+0.4p); higher […]

03 Aug 2023

Pantheon International wades into discount battle

Pantheon International has published results for the 12 months ended 31 May 2023 and in NAV terms it was good to see a positive return of 2.4% for the year, although this lagged the 4.3% return on the MSCI World Index. In share price terms, it is a different story as the discount widened further […]

03 Aug 2023

Henderson Smallers becomes latest dividend hero but adverse growth sentiment weighs on returns

Henderson Smaller Companies has announced results for the 12 months ended 31 May 2023. This was a year of underperformance, as the NAV total return came in at -13.8% versus -6.5% for the company’s benchmark – the Numis Smaller Companies Index (excluding investment companies). The discount actually narrowed a little – from 14.6% to 13.2% […]

03 Aug 2023

Schroders takes on International Biotechnology

International Biotechnology Trust has decided to appoint Schroder Unit Trusts Limited as its fund manager and AIFM. Shareholders had told the board that they wanted continuity of the company’s investment approach under the existing investment management team and to retain the dividend policy. Ailsa Craig and Marek Poszepczynski (who have been lead managers on the […]

31 Jul 2023

ThomasLloyd Energy Impact board calls for vote AGAINST continuation

On 11 July 2023, ThomasLloyd Energy Impact received a requisition on behlf of ThomasLloyd Cleantech Infrastructure Fund SICAV and ThomasLloyd SICAV – Energy Impact Credit Fund. It asks that the three resolutions which were not voted on at the AGM on 30 June 2023, including the continuation vote, be put before shareholders. The company is […]

31 Jul 2023

Chrysalis quarterly update extends NAV recovery

Chrysalis Investments says that as at 30 June 2023, its unaudited NAV was 136.86 pence. That represents a 6.84p per share or 5.3% increase since 31 March 2023. Movement in the fair value of the portfolio accounted for an uplift of approximately 9.28p, offset by an adverse foreign exchange movement of approximately 2.20p – as […]

31 Jul 2023

BioPharma loan repaid on REATA bid

BioPharma Credit’s manager Pharmakon Advisors notes the announcement released Friday 28 July by Biogen Inc. regarding its definitive agreement to buy Reata Pharmaceuticals Inc. The purchase price equates to an enterprise value of approximately US$7.3bn. Biogen and Reata currently anticipate that this transaction will close in the fourth quarter of 2023.  On 11 May 2023, […]

31 Jul 2023

Octopus Renewables backs UK solar and battery storage developer

Octopus Renewables Infrastructure has agreed to invest up to £2m to set up and fund a new development business, focused on creating new ground-mounted solar PV and co-located battery storage assets in the UK.  The trust will own 100% of the new company, which will benefit from exclusive development services from BLC Energy Limited (BLCe). […]

31 Jul 2023

QuotedData’s morning briefing 31 July 2023

In QuotedData’s morning briefing 31 July 2023: RM Infrastructure Income (RMII) says that, since its last update on 10 July 2023, the board has received an additional [merger] proposal under s110 of the Insolvency Act 1986 which is under consideration alongside one other proposal highlighted in the 10 July 2023 announcement, however at this time […]

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